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Lithuania has already reached the bottom of the impact of Russia's economic downturn and has effectively withstood the biggest hit, says Lithuanian Finance Minister Rimantas Šadžius.
Lithuanian finance minister on effects of Russian slowdown: The worst is behind us
© AP/Scanpix

"My general impression from what I hear our experts say is that we have already gone through the sharpest blow of Russian problems. We have already suffered the biggest impact of that force, which allows us to say that Lithuania's economy in many cases has effectively withstood this hit," said Finance Minister Šadžius on the radio Žinių Radijas.

He says that businesses have been changing their directions, adjusting their production and reviewing their routes, which in many cases help solve many problems. Šadžius forecasts that further economic recession in Russia will not have such an enormous impact on Lithuania any more.

"However, it is clear that this crisis of our economic relations with the East is not a short-term issue. It will probably persist for a longer time, so we all must accept this fact and respectively alter our strategies and tactics. The fact is that we have already survived the biggest hardship due to our economic relations with Russia," the minister said.

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